Anticipating decline in demand, National Mineral Development Corp (NMDC) decided not to raise price of iron ore and maintain it at Rs 5,060 ($95.01) per tonne for lumps, and Rs 2,610 per tonne for fines for February. It may be recalled that the country's biggest iron ore producer reduced prices by up to 6 per cent last month. It is lea
Tag: NMDC
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OMC rejects plea of local steel firms on lower price
Despite getting demands from steel makers in the state, Odisha Mining Corporation (OMC) does not want to sell iron ore to them at a lower rate. OMC does not want to get into any controversy on the lines of the NMDC case by selling iron ore at a concessional rate to steel makers in Odisha
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OMC rejects plea of local steel firms on lower price
Despite getting demands from steel makers in the state, Odisha Mining Corporation (OMC) does not want to sell iron ore to them at a lower rate. OMC does not want to get into any controversy on the lines of the NMDC case by selling iron ore at a concessional rate to steel makers in Odisha
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OMC rejects plea of local steel firms on lower price
Despite getting demands from steel makers in the state, Odisha Mining Corporation (OMC) does not want to sell iron ore to them at a lower rate. OMC does not want to get into any controversy on the lines of the NMDC case by selling iron ore at a concessional rate to steel makers in Odisha
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NMDC board to review iron ore price
Soon the board of NMDC would meet to review the price of iron ore it sells in the domestic market in line with the policy of the company to revise it every month. Media reports suggest that the state-run miner could raise the price between Rs 200 and Rs 400 a tonne. The board would take into consideration factors such as dema
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NMDC plans to ramp up ouput
During Jan-Mar 2013, NMDC plans to increase its iron ore production in order to make for the shortage of output in the Apr-Dec 2012 period. Between Apr-Dec 2012, the firm produced 175.56 lakh tonne, which is down from 202.79 lakh tonne a year ago.
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SAIL-led consortium to meet Afghan officials
The Indian consortium, that won the bid to mine iron ore reserves in Hajigak near Kabul in Afghanistan over one year ago, would meet officials of mining ministry in the country in a month's time. Although the consortium bagged the mining asset over a year ago, it has not signed a mining contract with the Afghan government because of contentious
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Analysts feel price cut by NMDC may not benefit steel firms
Analysts feel that the recent cut in iron ore price by NMDC may not benefit steelmakers in a big way because the former reduced the price of only iron ore lump. The prices for the majority of product mix (iron ore fines contributing to 75 per cent of total output) remains unchanged at Rs 2,610 a tonne. Therefore, the reduction in iron ore lump prices by NMDC may not bene
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NMDC board may revise price or ore next month
Agency reports suggest that the board of NMDC would meet on in the first week of February in order to review the price of iron ore. Industry sources expect the firm to raise prices for February given that ore price at the international market is rising considerably. From $90 a tonne in last September, iron ore price has
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Contractual opportunities in iron ore segment
The increasing capacity of steel production in the country coupled with ban on illegal mining in some of the states have caused shortage of iron ore in the country. In this backdrop, several companies are looking to hire contractors for activities related to mining and supply of iron ore.